What is a project triangle?

The project triangle is an approach to project management, which considers the key characteristics of the project on the side of the triangle that helps the staff to balance the requirements and restrictions of the project. Three key features are usually a combination of cost, timing and scope. Once each parameter has moved, the other parties must move to adapt and maintain a triangle in balance. Project managers can use this tool in different ways. For example, the project may have a two -month term, which makes the time the most important point of view. This may require an extension of multiple resources to make things in time or reduce the scope to meet this goal. When modifying the project plans, the fixed side of the triangle must always be considered. For example, a desire can be to maintain a project below a certain price and a certain scope, with timing is less important. This may result in lower quality of the end product due to costs. PROjecs can also have a large range and specific time frame, which allows greater flexibility with the cost of making the best project in time limits.

In addition to being useful in business, a triangle for project management can be useful for other things such as planning home reconstruction. Homeowners can sit down and decide what is most important to them; Completion of a particular set of rebuilding objectives, the ability to move to the house by a certain date or reduce costs. With this information in their hand, informed decisions with the project triangle can help them stay on the task and meet the goals.

It is possible to show other parameters for the triangle, not only the above three. The project manager can brainstorming before the project begins to think about targets and restrictions and to choose the three most important aspects, focusing on aspects that will affect each otherInternal such as demand for quality standards and limitation of available resources. It can use this information to create a specific project triangle to help it effectively control the project throughout the process.